No matter what happens in the world of media, real estate always manages to be a hot topic. Housing prices have soared over the last few years, with a few minor fluctuations here and there. Though the long-term demand for homes is high, buyers still hesitate during times of uncertainty. These ups and downs have a way of making your life “interesting” as a seller.
But change in the market is the only constant we can ever depend on. Inventory dries up, and an influx of homes becomes available. Legislation comes into place, and changing interest rates can either spur the market or bring it to a grinding halt. More than ever, homeowners need to be prepared for anything if they want a successful sale.
Our agents at Woolcott Real Estate have spent years honing our skills in selling homes in any market – including tough ones. (2008, 2017 or even 2023, anyone?) No matter what challenges you may be facing, we have a plan! In this post, we’ll highlight just a few ways you can make sure your listing stands out above all others in your area.
Partnering with one of the top agents in Hamilton & Burlington makes preparing and selling your home easier than you imagine. Learn more about how Woolcott Real Estate can help right here.
Take the Temperature of the Current Market
The market can be cold, warm or hot depending on when you’re ready to list your home. Since a lot can change since the last time you purchased or sold real estate, it pays to do some background research into where we are today. Knowing how busy the market is (or isn’t) will allow you to prepare, price and promote your home accordingly. For example:
- You are at an advantage if it’s a seller’s market with too many buyers and not enough listings. Don’t celebrate too early, though. You’ll need every edge to maximize your sale so you can compete when you re-enter this market as a buyer.
- If there are plenty of listings and not enough people looking for them, you could be at a disadvantage – unless you know how to make your home stand out!
- In a balanced market, the seller and buyer are on more equal footing. Making your listing more desirable than every other available house will help you achieve outstanding results from your sale.
Selling a house in Hamilton? The posts below will give you some valuable insight:
- Should You Sell a House in Hamilton Right Before the Holidays?
- 5 Things To Know About Hamilton Real Estate
Connect With an Experienced Real Estate Agent
The real estate market in Burlington and Hamilton will always go through the inevitable ebbs and flows, which have become even more unpredictable over the past couple of years. The ability to sell a house relatively quickly and for the maximum amount has become an art and a science.
It takes knowledge, skill and the ability to interpret complex market reports. The deep instinct that comes after dealing with countless sales while facing every challenge imaginable also helps.
While you could sell your home on your own in a busy market, the chances are high that you will earn less than you should. An experienced real estate agent will guide you through each nuance so you don’t waste time or effort on unnecessary projects. Instead, you’ll concentrate on doing everything possible to ensure a successful close. In a slow or balanced market, this level of service is not a luxury; it’s essential.
Set Clear and Realistic Expectations
What do you want to achieve with your transaction? Setting your goals and expectations goes well beyond just hoping for the best price. If you’re upgrading to a newer and more expensive house, you need to earn the highest amount possible. If you’re downsizing, you might prioritize a stress-free transition over everything else. One thing is always certain: you need realistic expectations to plan your next steps.
It does no good to expect to earn $2 million from your home if the market value is only $1.5 million. If you overestimate what your house will sell for, you may come up short when budgeting for your next step.
Looking for more advice on how to choose a real estate agent? The posts below can show you what to look for:
- Should You Use the Same Agent to Sell and Buy a House?
- Fact Vs Fiction About Working With A Real Estate Agent
- FSBO vs Real Estate Agent Assisted Sales: What’s Better?
Get to Know Your Competition
A big part of making your home stand out as the market evolves happens behind the scenes. Having an idea of what is happening in your area can give you an advantage over competing sellers. Here are a few factors to investigate.
- How many houses have sold recently?
- Are there a lot of listings available? And how does the number of listings compare to how many buyers are actively searching?
- What is the average price of a house similar to yours?
You can find a lot of valuable information by visiting the website of your local real estate board. Your agent can do even more reconnaissance work to see not just the listing price but the actual amount a house sold for. Each number tells a story, and in-depth analysis will give vital clues on how to position and promote your listing for maximum impact.
Curious as to how much your house will sell for today? Book a free home evaluation right here.
Determine How Much Your Home Is Worth
Since realistic expectations are critical, it makes sense to kick off your entire home-selling process with an accurate estimate of what your house is worth in the current market. From here, you’ll have an idea of what repairs, if any, are necessary to appeal to potential buyers and possibly increase your property value.
A local real estate team can help by performing an in-house evaluation factoring in the age, size, condition and any updates you have invested in over the years. We will also monitor current listings that are on the market and what similar houses are selling for. All of these tools are valuable in getting the price right.
An accurate price typically means your house will sell faster – and for more money. Less hassle and greater profits make all of your efforts well worthwhile! With an honest assessment under your belt, you can then look for simple ways to increase the perceived value to potential buyers. This happens in the next step as you prepare your home for the market.
The more background information you have, the easier it will be to maximize the full value of your house. The posts below will give you some critical insights:
- 8 Important Things to Remember When Selling Your Home
- Why Home Sellers Need to Think More Like Buyers
- A Back to Basics Guide to Maximizing Your Sale
Create Curb Appeal
Many sellers focus on the interior of a home while neglecting the outside. Their mistake can be your advantage. Creating stunning curb appeal gives you the chance to make your house dazzle from the moment a buyer sees it.
Rain or shine, summer or winter – you can and should do everything you can to beautify the outside of your home. There is no better way to create a positive and unforgettable first impression on everyone who pulls up to your door.
Start by ensuring the walkways and driveway are clear of any snow, leaves or other debris. Store all tools and garbage bins neatly out of sight. During warmer weather, keep the grass and any hedges cut and well-maintained. A few decorative planters and a colourful garden will enhance the effect beautifully!
If you’re selling during a colder season, you’ll need to take extra care to ensure the outside of your home is show-worthy. Power washing your front door, siding and porch can create an instant improvement that makes buyers take notice! From there, focus on the smaller details.
Take down old planters from the front porch, edge and mulch gardens and bring in fresh florals to brighten up the exterior of the home. Attractive curb appeal will help to pique buyers’ interest, whether they are driving by or seeing your home online for the very first time.
Looking for even more step-by-step advice to transform your home? The posts below will help you impress all potential buyers.
- Does Curb Appeal Still Matter When Selling A House Today?
- Worth It or Not? What Renovations Really Help When Selling Your Home
- Minor Upgrades, Maximum Results
Refresh the Interior of Your Home
A deep clean and thorough decluttering are among the first steps to making your home stand out. This may seem obvious, but you’d be surprised at how many sellers don’t take the time to prepare their house for buyers!
Extensive renovations are rarely necessary to bring your listing to the market. Once every room sparkles and shines, a few minor repairs and updates can make your home presentation pop.
You can also factor in the season and prepare your home accordingly. In the late fall or winter, make ample use of cozy throws and knit blankets. Store all winter décor away as spring arrives and replace it with a fresh, neutral colour palette. And, if you’ve sacrificed a few houseplants over the snowy season (I know I have), replace them with new greenery to give your home a little extra life!
Stage With the Buyer in Mind
Anyone who has considered selling a house in the last few years has heard all about the value of staging. However, there can be some confusion over what it means and how to go about it.
Staging means presenting your home in a way that appeals to the highest number of potential buyers possible. It’s not about decorating to your own tastes. You want to keep it neutral and generic, almost like a magazine. The idea is to create a blank slate and allow the buyer to fill in all of the details with their imagination. If you can pull this off, there’s a good chance your home will fetch a higher dollar value and sell faster.
Great news for home sellers! Woolcott Real Estate provides complimentary staging for all clients. Learn more in The Power of Staging When Selling Your Home.
Don’t Forget About Marketing
After you’ve gone through all the time and effort of getting your home ready to welcome buyers (or our team has done it all for you), you may not recognize your own space! However, there is still one critical piece of the puzzle to go.
This spectacular presentation means nothing if potential buyers don’t find your listing. Enter a comprehensive marketing plan to generate massive exposure for your home.
A good listing agent will ensure your listing is visible on major platforms such as the MLS® and Realtor.ca. In addition, they should also have extensive outreach on social media while making full use of magazine-quality print materials. Online or offline, qualified buyers need to find you wherever they are beginning their search.
Want to know more about how we promote your listing to potential buyers everywhere? Find out in Our Full-Service Real Estate Team’s Guide to Marketing Your Home.
Be Prepared to Negotiate
The real estate market can change quickly, and your home selling strategy may also need to pivot. During busy markets, you’ll enjoy more negotiating power and can typically hold firm on your price. Maybe you won’t even entertain an offer unless it’s unconditional.
When sales are slow, you may need to be open to concessions such as a slightly lower price. Just remember that you’ll always have some advantages regardless of the market. An experienced real estate agent with negotiation expertise can ensure you don’t miss a single opportunity to catch the attention of potential buyers.
There are many other factors involved in generating the most money when selling your home. If you want to know more, reach out to Woolcott Real Estate right here or call 905-332-9223 to connect with an expert today.